Market Information Service

Towards greater transparency in the tropical timber markets

The ITTO Tropical Timber Market (TTM) Report, an output of the ITTO Market Information Service (MIS), is published in English every two weeks with the aim of improving transparency in the international tropical timber market. The TTM provides market trends and trade news from around the world, as well as indicative prices for over 400 tropical timber and added-value products.


 

 

01-15 November 2008

Top story

MTE freezes timber prices

The Myanmar Timber Enterprise (MTE) has announced
that the current list price, which has been in effect since
August 2008, will apply until 31 March 2009. The
announcement, made on 10 November 2008, also suggests
that the MTE may adjust the allowable felling and supply
to ease buyers’ current problems. Buyers are expecting to
see some quantity adjustments in the coming tenders.
Major importers, particularly India, China, Thailand and
Pakistan, have been facing difficulties with supply and
prices. It is expected that buyers and sellers will have to
make some concessions to address the current market
situation.
Reports from Myanmar indicate that the current economic
crisis has been causing some uncertainty among timber
dealers. India, which is a major consumer of teak, was said
to have fallen behind in purchases and shipments. Indian
buyers noted exchange rate problems and credit facilities
as some of the factors the factors affecting their purchases
and shipments. As it has been reported, the negative
economic effects of the credit crunch are being felt in
India as well.


Peru exchanges 25million in debt for forest conservation

The US Department of the Treasury has recently
announced an over USD25 million debt-for-nature swap
with the Government of Peru under the Tropical Forest
Conservation Act. The initiative builds on previous debtfor-
nature agreements with Peru and aims to dedicate the
new funds to finance projects for the conservation,
protection and restoration of Peru’s forests over a seven
year period. The new agreement is the fourteenth such
agreement under the Tropical Forest Conservation Act,
which is expected to raise a total amount of USD188
million to protect tropical forests.


Also in this issue

  • West Africa prices unchanged due to slow trading
  • TIDD export permits rise 7% in second quarter
  • Malaysia expects timber exports to slow in 2008
  • Prince Charles urges Indonesia to continue forest preservation
  • Brazil aims to raise USD21 billion for Amazon Fund
  • Guyana’s plywood exports recover in third quarter
  • ITTO Council session attracts new funds for tropical forests
  • China’s wood imports and exports slow in 2008
  • European hardwood stocks drop to low levels
  • CE Marking requirements expand for wood products

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